 | Augusto Graziani - Business & Economics - 2003 - 190 pages
...goods comprise the consumption of wage earners and the investment of capitalists. As Adam Smith said: 'What is annually saved is as regularly consumed as what is annually spent and nearly in the same time too; but it is consumed by a different set of people' (Smith 1993 [1776],... | |
 | David A. Reisman - Business & Economics - 2004 - 306 pages
...others.' (Schumpeter, 1926/27b:154). The Keynesian consumption function shattered the quiet confidence that 'what is annually saved is as regularly consumed as what is annually spent, and nearly in the same time too' (Smith, 1776:1, 359): 'We take it as a fundamental psychological rule... | |
 | Denis Patrick O'Brien - Business & Economics - 2004 - 458 pages
...Abstinence from consumption was the source of capital, and capital was demand for labor; hence the dictum that "what is annually saved is as regularly consumed as what is annually spent, and nearly in the same time too."7 Starting from these positions, we can understand JS Mill's famous... | |
 | Adam Smith - Business & Economics - 2004 - 260 pages
...into motion an additional quantity of industry, which gives an additional value to the annual produce. What is annually saved is as regularly consumed as what is annually spent, and nearly in the same time too; but it is consumed by a different set of people. That portion of his... | |
 | Guido Erreygers, Geert Jacobs - Language Arts & Disciplines - 2005 - 256 pages
...industry' into motion, and calling storing up capital 'parsimony' before coming to the famous dictum. What is annually saved is as regularly consumed as what is annually spent and nearly in the same time too; but it is consumed by a different set of people. (ibid.: 337) That... | |
 | Jerry Evensky - Business & Economics - 2005 - 364 pages
...capital stock that flows into the hands of productive laborers who use that stock to support themselves. What is annually saved is as regularly consumed as what is annually spent, and nearly at the same time too; but it is consumed by a different set of people. (WN, 337-8) Ultimately,... | |
 | E. Ray Canterbery - Science - 2006 - 208 pages
...diminished by prodigality," but believed that all savings become real capital investment. As he put it, "what is annually saved is as regularly consumed as what is annually spent, and nearly in the same time too; but it is consumed by a different set of people." The "consumption"... | |
 | Lionel Robbins Baron Robbins - 268 pages
...remarkable. Classical teaching on this subject had hitherto been represented by Adam Smith's proposition that 'What is annually saved is as regularly consumed as what is annually spent, and nearly in the same time, too',2 or by the even more doctrinaire Law of Markets, as it was thought... | |
 | F. A. Hayek - Business & Economics - 2007 - 475 pages
...Adam Smith, The Wealth of Nations, ed. Edwin Cannan (London: Methuen, 1904, 1976), Book II, chapter 3: "What is annually saved is as regularly consumed as what is annually spent, and nearly at the same time too; but it is consumed by a different group of people". [The passage from... | |
 | Michael Lewis - Economic policy - 2007 - 1476 pages
...into motion an additional quantity of industry, which gives an additional value to the annual produce. s quantities of labor which have been bestowed on those other things will e and nearly in the same time too: but it is consumed by a different set of people. That portion of his... | |
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What is annually saved is as regularly consumed as what is annually spent, and nearly in the same time too ; but it is consumed by a different set of people. 
